Resolved,  the shareholders of Labcorp request the preparation of a report, updated annually, disclosing: 1.   Company policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications.  2. Payments by Labcorp used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the amount of the payment and the recipient.  3. Description of management?s decision-making process and the Board?s oversight for making payments described above. For purposes of this proposal, a ?grassroots lobbying communication? is a communication directed to the general public that (a) refers to specific legislation or regulation, (b) reflects a view on the legislation or regulation and (c) encourages the recipient of the communication to take action with respect to the legislation or regulation. ?Indirect lobbying? is lobbying engaged in by a trade association or other organization of which HP is a member. Both ?direct and indirect lobbying? and ?grassroots lobbying communications? include efforts at the local, state and federal levels.  The report shall be presented to the Audit Committee and posted on Labcorp?s website.  Supporting Statement  Full disclosure of Labcorp?s lobbying activities and expenditures is needed to assess whether its lobbying is consistent with its expressed goals and stockholders? interests. Labcorp spent $9,570,000 from 2018 ? 2023 on federal lobbying. This does not include state lobbying, where Labcorp also lobbies but disclosure is uneven or absent. For example, Labcorp spent $4.2 million on lobbying in California from 2015 ? 2023. Labcorp also lobbies abroad, spending between ?100,000 ? 199,999 on lobbying in Europe for 2023. Companies can give unlimited amounts to third party groups that spend millions on lobbying and undisclosed grassroots activity, and these groups may be spending ?at least double what?s publicly reported.? [1] Labcorp fails to comprehensively disclose its memberships in trade associations and fails to disclose its payments to trade associations and social welfare groups, or the amounts used for lobbying. Labcorp discloses belonging to the American Clinical Laboratory Association (ACLA), the Association of Clinical Research Organizations and the National Association for Biomedical Research, which spent over $2.6 million on federal lobbying in 2023. Labcorp?s disclosure also leaves out trade associations that lobby, like the Association of National Advertisers, BioForward Wisconsin, California Clinical Laboratory Association and CommonWell Health Alliance. Labcorp?s lack of disclosure presents reputational risk when its lobbying contradicts company public positions. For example, Labcorp is committed to improving healthcare access for all, yet the ACLA has lobbied against the Protecting Access to Medicare Act to reform the Medicare clinical laboratory fee schedule. [2] And Labcorp believes in upholding quality throughout its organization, yet the ACLA has opposed rules to gradually phase in oversight of new tests developed by laboratories as FDA officials have voiced concerns about the accuracy of lab tests. [3] We urge Labcorp to expand its lobbying disclosure.     [1] https://theintercept.com/2019/08/06/business-group-spending-on-lobbying-in-washington-is-at-least-double-whats-publicly-reported/ . [2] https://www.medtechdive.com/news/congress-delays-medicare-lab-payment-cuts/700036/ . [3] https://apnews.com/article/laboratory-tests-fda-accuracy-patient-safety-4585baf76ad60df641c5945ab2d4c131 .